Deacons advises the sole sponsor Shenwan Hongyuan Capital (H.K.) Limited and underwriters in relation to the Main Board IPO of Flowing Cloud Technology Ltd (SEHK Stock Code: 6610) (“Flowing Cloud”), seeking to raise approximately HK$782 million (subject to the exercise of over-allotment option).
Flowing Cloud provides augmented reality (AR) / virtual reality (VR) content and services in China. It ranked the first in the AR/VR content and services market as well as the AR/VR services market in China in terms of revenue in 2021, according to a market research report commissioned by it.
Flowing Cloud launched its IPO on 29 September 2022. Dealings in its shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on 18 October 2022.
